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Fraud rates remain at record highs.
Is your business prepared?

Fraudsters are becoming more sophisticated every day and it’s costing business owners millions of dollars. They have ways to steal passwords, disrupt your operation, and submit counterfeit transactions to your accounts. But we have ways to help. We offer specialized fraud protection services to businesses of all sizes. And, experienced staff to help with training and implementation. Our Fraud protection tools are easy, inexpensive and most importantly, they are effective.

At FCCB, our experienced staff offers specialized fraud protection services to businesses of all sizes.

We offer Check Positive Pay where you send us a list of checks you issued and we’ll be sure they are the only ones charged to your account. No need to waste time on account reconcilement.

  • Be proactive in protecting your business from fraud
  • Provide us with an electronic file from your system listing the following:
    • Check number
    • Date
    • Amount of each check issued
  • When checks are presented on your account, they are verified against the file you provided
  • If the amount of the check is different from what you provided, it shows up as an exception through online banking
  • You then have the options to pay or return the check

You tell us which businesses are authorized to electronically debit your account, and we’ll return all other payments or block them completely.

This service provides an essential added layer of security towards safeguarding your assets by automatically blocking or filtering out unauthorized ACH transactions. You can either block all incoming debits with ACH blocks, or designate a list of authorized debits/credits with filters. If the ACH Originator is not on the authorized list you provide, we will return unwarranted transactions.

Multifactor Authentication protects your business from online predators by requiring multiple pieces of information to validate identity while supporting compliance with regulatory requirements.

Multifactor Authentication automatically monitors accounts for unusual activity based on account history and requires all users to verify their identities by answering pre-selected challenge questions if unusual activity is detected. An optional module allows you to select from a library of images that can be displayed upon log-in to further verify that they are connected to First Citizen’s legitimate website rather than a fraudulent copycat site.

Plus, we offer secure tokens as an extra level of security when you access our online banking site.  Physical or virtual tokens are available and generate a simple, one-time authentication code that changes at the push of a button. This unique, one-time-use pass code positively verifies bank customers and only permits access to your online banking if the code is validated.

Corporate Account Takeover (CATO) is an electronic crime in which cyber thieves gain control of a business bank account by stealing valid online banking credentials or by hijacking browser sessions.

Once cyber thieves gain access to an account, they can conduct unauthorized ACH and wire transactions, change contact information, change online account settings, and gather knowledge to commit other crimes. Municipalities, school districts, non-profits, corporations, and small businesses are potential targets. Businesses across the United States have suffered large financial losses due to CATO. Businesses with limited computer safeguards and disbursement controls are especially vulnerable. Please see the resources on this page to learn more about Corporate Account Takeover and how you can mitigate the risk of this crime.

Resources:

  1. Sound Business Practices for Companies to Mitigate Corporate Account Takeover
  2. Cyber Secure My Business

ACH Positive Pay protects your ACH debit and credit transactions and helps you manage payments to and from your business accounts.

You can review transactions scheduled to post and prevent unauthorized transactions from being processed in order to protect your business against fraudulent charges. When setting up ACH Positive Pay, you will establish guidelines for authorized payments to compare future incoming and outgoing transactions. If a transaction does not fall within these authorized guidelines, you can review and cancel or clear a transaction before it posts.

You can customize the level of online banking functionality you give each user, designate what time of the day they can have access, and restrict access to certain computers. And with dual control, each transaction is “touched” by two employees. This helps protect your business from internal and external fraud. 

Finally, you can set up alerts to notify you of events such as an outgoing wire or ACH transaction, change in password, if a reoccurring transfer is expiring and much more.  If the event seems inappropriate, the alert will help you catch it sooner.